Part 2Trading income

Chapter 6Trade profits: receipts

F1Cash basis accounting

95AApplication of Chapter to the cash basis

F2(1)

For rules about receipts that apply only for the purpose of calculating profits on the cash basis, see the following—

  • F3...

  • section 97A (cash basis: value of trading stock on cessation of trade),

  • section 97B (cash basis: value of work in progress on cessation of profession or vocation).

F4(2)

Section 96A makes provision about capital receipts in certain cases where the profits of a trade are calculated on the cash basis or have previously been calculated on the cash basis (and see also section 96B).